All those here celebrating because we got the double bye don't understand that it isn't really much of an advantage if any at all. Not getting one could be a disadvantage, but only under certain circumstances. It's only important in the sense that earning one means you had a successful season and should be playing at least one lower seeded team.
Teams with the double bye have to face a team in their first game that already played a game, getting used to an unfamiliar arena and shaking off the nerves starting in an important tournament which could be an advantage. We saw that today, one team showing up looking very comfortable and one who didn't. If you win that game, all your next opponents are most likely to also have the double bye, so no advantage there.
Teams without the double bye may have the above advantage in their first game. It only becomes a disadvantage the further they advance in the tournament. Playing three games in three days against a team playing two in two isn't that much of a disadvantage depending on team depth and how the the prior games go for both teams. But those lower seeded teams seldom go very far since they usually just aren't as good as the teams that also advance, not because they are worn out.
So it's always about how your team plays, not where they are seeded in conference or the NCAA tournament. I will repeat that in 2011 UConn won FIVE games in FIVE days in their conference tournament and were so worn out, they won the next six and the national championship.